Shriram Finance Stock Split: Shares fall 6% ahead of board meet, Q2 results #CashNews.co

Shares of Shriram Finance Ltd. are trading with losses of up to 6% on Friday, October 25, ahead of a board meeting to consider a split of its equity shares.

Additionally, the non-banking financial company (NBFC) is set to declare its second-quarter results today.

Record date for the said split is yet to be determined.

The corporate action will be subject to approval of the members of the company, Shriram Finance had said in a filing earlier.

The company’s shares currently have a face value of ₹10. Shriram Finance has never carried out a stock split or issued bonus shares since its listing.

A stock split is generally considered by a company to increase its outstanding shares, and also improve trading liquidity by making the stock more affordable to its shareholders.

Shriram Finance will will also declare an interim dividend for the financial year 2024-25. Record date for the said interim dividend has been fixed as November 7, 2024.

At 1 pm, shares of Shriram Finance Ltd. are trading 4.42% lower at ₹3,101.60. The stock has gained over 50% so far in 2024 and is up over 70% in the last one year.